Bank of Jerusalem Launches AI Customer Service Representative Named Noa
Bank of Jerusalem has launched "Noa," an AI-powered customer service representative, to enhance availability and digital efficiency alongside human agents, amid ongoing financial adaptations.
Bank of Jerusalem, an independent bank traded on the Tel Aviv Stock Exchange, is deepening its integration of artificial intelligence by launching "Noa," an AI-powered customer service representative.
Noa joins the bank's telephone customer service center alongside human representatives, aiming to provide clients with a more accessible, rapid, and efficient service experience, enabling them to perform transactions independently around the clock.
Digital Transformation Strategy
The introduction of Noa is part of a broader initiative led by Bank of Jerusalem to integrate advanced technologies into its banking operations and adapt services to digital-era expectations. The AI agent will integrate into the existing service array to deliver personalized and innovative banking solutions.
Initially, Noa will help enhance service availability and control quality. Going forward, the bank plans to expand the system's operational scope, incorporating additional services and functions in alignment with client needs and ongoing artificial intelligence advancements.
Leadership Perspective
Irena Portnik, head of the Resources and Technological Innovation Division at Bank of Jerusalem, stated: "We are harnessing the capabilities of artificial intelligence to provide our customers with an excellent and innovative service experience, alongside continued personal service through human representatives. Simultaneously, we continue developing and expanding the capabilities and services we can offer our clients via AI."
Financial Context and Market Performance
Bank of Jerusalem specializes in complementary banking solutions for customers of all banks, focusing on mortgages, consumer credit, deposits, and residential construction financing, with particular expertise in urban renewal projects. The launch comes against the backdrop of recent financial reports showing a decline in profits, with a return on equity of approximately 12%.
During the first half of the year, net profit totaled NIS 96.4 million, representing a 13% decrease compared to the corresponding period last year, while the return on equity dropped to 11.8% from 14.6%. In the second quarter alone, net profit stood at NIS 45.1 million, with an 11.1% return on equity.
The decline primarily stems from narrowing interest rate margins and the absence of one-off revenues recorded last year. The Bank of Israel reduced the interest rate from 4% at the beginning of the year to 3.5% in July, weighing on a bank heavily reliant on interest income. Nonetheless, underlying credit to the public grew by 8.2% since the beginning of the year, driven by mortgages and construction financing.
